GTC Biotherapeutics (fka GTCB)

[bornfromapetridish]

During the second quarter of 2007, a number of batches of ATryn® were rendered unusable during the fill process at our US based fill/finish contractor. We recorded a $2.9 million charge to cost of revenue in connection with the write-off of the inventory in question. While we are pursuing recovery of our losses, we cannot estimate whether or to what extent we will be successful in these efforts, therefore we make no assumption of the recovery, if any, in our financial statements or projections.


Woah Nelly. One of my fears about GTCB is that the company could encounter problems like this. Now what exactly was this problem? Was it with the goats or was it a problem with the process of extracting ATRYN from the milk at the processing plant? Is it a problem that was corrected or is this something that could be an on going issue? Did Cox adress this in the CC?

I am wondering if this was part of the sell off when certain people learned of this problem.